A brand-new museum celebrating the history of London is set to be built on the derelict West Smithfield site after funding from local authorities came through.
Sadiq Khan has pledged £70m for the Museum of London update project, while the City of London Corporation will give £110m.
(Photo: Museum of London. This is the current site)
The project’s total cost will be £250m, and its new location will mean it is near the future Crossrail transport hub in Farringdon.
The Museum, which is currently located near the Barbican, was established in 1976. It has millions of objects and covers history going back as far as 450,000BC.
“The world’s greatest city deserves the world’s greatest museum, which is why I’m delighted to announce £70m of funding for the new Museum of London,” said Khan.
“From the outset of my mayoralty, I pledged to make culture a core priority and I’m proud that this is the biggest ever cultural investment made by any mayor of London to date,” he added.
The new building will keep much of its original iconic market design, it is understood.